Sunday, January 9, 2011

TATACHEM (wave count)

TATACHEM (wave count): Tatachem has broken the rising trendline from Jul 2009. The stock took support on this Channel Line B at points p,q and r. The stock nearly tested that trendline thrice in last two months at the top of wave iv, wave a and wave c(2). This trendline testing and eventual break leads me think this count is the preferred count. The alternate count is bull case where, I put this decline as wave 4 the rise up as wave i and now heading for wave ii retracement.

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

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